Mississippi Economic Resource Trust

Nonprofit profile at a glance

EIN
646193927
IRS 990 coverage
2020–2025
Forms available
Form 990 2025
Location
New Orleans, LA, USA
Phone
5045992191
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Private Grantmaking Foundations

Reported finances

Revenue
$3,110,550
Expenses
$1,093,638
Assets
$15,085,326
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

1 person listed

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Mississippi power company, a Mississippi corporation, determined that there is a need to encourage economic growth and investment in their service area and within the state of Mississippi.the purpose of this trust is to (1) provide funds to improve the economic growth and development of business and industry in ms through funding a seed capital corporation or similar entity.(2) the trust will provide the department of economic development of the state of ms with funds for a resource presentation center.(3) the trust encourages private industry to contribute, invest, and participate in the economic development in the state of ms in the spirit of the economic development reform act.

What it reported doing in 2025

Project ready. Ms power's economic development department, through it's economic development trust, launched project ready, an unprecedented industrial sites program, to attract new industries to southeast Mississippi. The purpose of this program is to get se ms development ready in an effort to lure new industries and better quality jobs to the area. Project ready will identify sites in each county that are appropriate for development and improve the readiness of those sites already in the economic opportunity inventory in the region.

Operating model

Revenue model
Donor-supported. 79% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of total spending goes to programs. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 61
  • Transparency & Controls: 94
  • Accountability: 70
  • Sustainability: 91
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 52.9%; rating input score 53
  • Program expense ratio: 93.6%; rating input score 94
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 75th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 2 of 9 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Limited
    • Other executive compensation review process: Limited
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 64.8%; rating input score 95; 95th percentile among comparable filings
  • Total-asset coverage ratio: 13.79; rating input score 91; 91st percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 96; 96th percentile among comparable filings
  • Officer compensation ratio: 2.6%; rating input score 72; 72nd percentile among comparable filings

Growth

  • Program expense growth: 56.5% per year; rating input score 100; 97th percentile among comparable filings
  • Revenue growth: 24% per year; rating input score 100; 91st percentile among comparable filings
  • Asset growth: 13.1% per year; rating input score 100; 69th percentile among comparable filings

Details

  • Where the money goes: 52.9% of revenue deployed · 93.6% of spending went to programs
  • Governance: 1 of 1 board members independent · 2 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1M in reported program spending
  • Leadership: top reported pay $29K · 1 people listed
  • Consistency: 15 of 15 current checks pass
  • Schedules: 3 filed schedules · includes major donors and grants
  • Filing history: 6 filing years from 2020 to 2025
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Financial Efficiency: Mission deployment rate scored 53/100.
  • High — Accountability: Governance controls: 4 of 6 not reported.